On Your Way Toward a New Home Loan in Bakersfield, CA
A home isn't a one size fits all kind of thing. Neither are home loans in Bakersfield. Finding the right fit for you may require some comparison shopping! Mr. Cooper can help! Our mission is to turn the homeownership journey into something that's less difficult and more enjoyable, beginning with the mortgage loan process. We encourage you to read on for introductory information about finding a home loan, but also contact a Mr. Cooper mortgage professional for any questions you may have.
Check your credit before you start applying for loans and try your best to get it in tip-top shape. A poor credit rating might mean you are presented with a higher interest rate on your loan. On the flip side, a high credit score can help you advocate for your best rate with a lender. Your credit strength, finances, and and the timeline you'd like to make your move can all affect the loan type that aligns with your goals. So, what loans can you pick from?
What Types of Loans Are There in Bakersfield, CA?
You may have options when it comes to Bakersfield home loans: conventional loans, FHA loans, FHA streamline loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), and high balance conforming loans. A conventional loan could be a great route for you if your credit is healthy, your income and employment history are stable, and you're ready to make a down payment of as little as 3% depending on your situation.
FHA and VA loans fall into the government loan category. Credit and income requirements tend to have laid-back than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. Which one of these home loans is a good fit for you? A trained loan officer can help you understand your options and next steps, depending on your stage in the journey.
Start with a Preapproval Letter in Bakersfield, CA
Talk to your lender about a Verified Approval Letter. Get one before you start shopping for homes in Bakersfield to show that you really do intend to buy. A Verified Approval Letter is evidence that the lender has reviewed your finances and has given you an estimate of how much you can buy. It can also speed up seller’s you’re serious about the home they’re selling. Give us a call today to discuss everything from your credit, possible loan options and your Verified Approval letter. Now is a great time for buying a home in Bakersfield. What are you waiting for? See how we can help you navigate your next home-buying experience!
- This is not a commitment to lend. All loans are subject to credit and property approval. This offer is nontransferable and may not be combined with any other mortgage offer. Advertised offer is subject to change. If a personal code is present on the advertised offer, you must provide such code to claim the offer. We may gather information about you including, but not limited to, credit bureau information, information for verification of income, information for appraisal and verification of property being used for collateral. We also verify your identity. Income, assets, and debt must meet eligibility requirements as established by Government and/or Lender guidelines.